March 3, 2009: How Broken Is The Stock Market?

Is this market worse than the market during the Great Depression? Find out in this video. Brought to you by www.goodmorningwallst.com, your source for free videos on stock trading and technical analysis tips and techniques.

Wow, nice trade on Citi. I see you bought it after a huge volume spike on the downward move. Was that a capitulation play? You gotta have big balls, or at least a lot of trading experience to buy into that downtrend.

Well basically what I mentioned above, also the MACD for the dow and the RSI were screaming oversold. Oil and base metals were strengthening despite the selloff and gold was declining indicating safe-haven buying was leveling off. Baltic dry index is always a nice indicator.

I unfortunately had most of money invested already, but I have made money on almost everything now, also I had enough left to buy up Citigroup at $1.10 Looking to sell stocks next week as we may be topping out

Rally coming next week – smart shorters covered at the end of the day – commodities, baltic dry index have rallied despite equities selloff, us dollar has not strengthened further – leading indicators point to a rally next week